After the announcement was given to hold off on the moving, buying and selling of property in March in the first stages of lockdown, the property market was put on hold for the safety of its owners, buyers and agents. But now with the lockdown slowly being lifted and life returning to, perhaps, a new normal, the housing scene is picking up the pace and making way for a new era of buying.
Very socially distanced viewings
Viewing a home is normally the decider for any buyer but the way this is carried out is changing. With social distancing soon to become a natural part of any business’ safety regulations, the housing market is no different. Throughout the months of May and June, the London market has seen a spike in purchases from overseas buyers who haven’t visited the property before but instead turned to tech for virtual viewings. The property market has quickly invested in this type of viewing with many estate agents now using 3D cameras and drone footage to allow for potential buyers to get a real feel for the property without having to make the trip. With a variety of affordable housing companies releasing guides on buying after lockdown, many are already utilising the power of virtual viewings for their younger audience of tech-stealthy first time buyers, the promise of a more virtual and remote future is predicted to work well for the property sector.
An increase in property portals
Property Portals are already a popular way to browse the market without having to pop into an estate agents and make an appointment but its relevance in a more socially-distanced world is set to overtake any other way of finding a home. With Zoopla seeing a huge increase of views over the month of May, the ability to access a shop-window style of house hunting is becoming a complete necessity for buyers. Propertybooking.co.uk is already a leading property portal that takes you from the browsing to the buying to the moving in a matter of weeks and provides an all-inclusive style of buying. It is this more online, technological approach to property that is set to become a more popular way of communicating between buyers, sellers, agents and associations for the post-covid generation.
Affordable Housing Schemes
After the economy took a huge hit and continues to struggle under its own weight of furloughs, closed businesses and lockdown regulations, buying a home and saving for the future has been put on the back burner for many people. A new way of buying is set to become the solution for many people saving for their futures. Schemes such as Help to Buy and Shared Ownership are offering homes at an affordable 5% deposit and a reduced mortgage. While these are already hugely popular among the younger generation of buyers, with their growing availability and affordability these could aid many people affected by the cuts Covid has served the economy. These schemes are offering homes from Shared Ownership Brighton and Woodlands Green to Manchester and Newcastle, making city living an affordable fleet. And with reams of resources out their such as Moats F&Qs, it seems their already well prepared and proofed for a socially distanced near future.